4 ms·

> If I do nothing for six months they'll just cut a cheque for the money in the account and close it. Seems like you get a lot more time than the BoA folks.

Someone1234 8y ago
And BoA sent out random letters asking for highly personal information, without the recipient having any way to know they were legitimate. Instead BoA should have sent out letters asking the customer to call them, or log into their BoA account. BoA just locks accounts because it is easier on BoA than the alternative. The consequences for the customer be damned. That's reason #1,000,000 not to work with BoA or Wells Fargo.
- LyndsySimon 8y ago
  I really liked Wells Fargo, but had a terrible experience with their legal department. I had a judgement against me for <$500 and they froze $20k. Had I not raised hell with them they were going to keep the freeze for 120 days. That’s insane. The big banks all seem to be very conservative when it comes to legal issues, at the customer’s expense.
  - maym86 8y ago
    Wells Fargo is beyond conservative. It is activley criminal. https://en.m.wikipedia.org/wiki/Wells_Fargo_account_fraud_scandal https://en.m.wikipedia.org/wiki/Wells_Fargo_account_fraud_sc... It's not too difficult to take a small step and open an account elsewhere. We can stop rewarding these large banks for their bad behavior. I've had a good experience with Ally.
    - LyndsySimon 8y ago
      Ally is just as much of a “large bank”, isn’t it? I currently bank with a regional bank, but they were acquired by Arvest. I’m looking for alternatives now.
      - maym86 8y ago
        They currently don't seem to be behaving in ways that actively hurts customers. I don't think there anywhere close to as big as BoA. My issue is more with behavior. But yeah, I've been considering opening a local credit union account to try that out too.
      - mindslight 8y ago
        Not quite just as much (1/10 the size), but certainly up there. Ally was formerly known as GMAC, which should ring some bells. https://en.wikipedia.org/wiki/List_of_largest_banks_in_the_United_States https://en.wikipedia.org/wiki/List_of_largest_banks_in_the_U... You'd hope that being one of the 19 largest banks would keep them a little more responsive than being one of the 4 largest banks. As well as their customers being lower friction online ones, rather than trapped by circumstance brick-and-mortar ones. But like everything in our "best-effort" economy, the only thing you can really do is open multiple bank accounts [0] and hope they aren't yet colluding hard enough through the commercial surveillance bureaus that their failures will remain reasonably independent. [0] Obviously at places that aren't likely to institute monthly fees, or arbitrary requirements to avoid them.
    - ams6110 8y ago
      I have always used a local credit union for basic checking/savings. No need for a big national bank for that.

Someone1234 8y ago

And BoA sent out random letters asking for highly personal information, without the recipient having any way to know they were legitimate. Instead BoA should have sent out letters asking the customer to call them, or log into their BoA account. BoA just locks accounts because it is easier on BoA than the alternative. The consequences for the customer be damned. That's reason #1,000,000 not to work with BoA or Wells Fargo.

LyndsySimon 8y ago
I really liked Wells Fargo, but had a terrible experience with their legal department. I had a judgement against me for <$500 and they froze $20k. Had I not raised hell with them they were going to keep the freeze for 120 days. That’s insane. The big banks all seem to be very conservative when it comes to legal issues, at the customer’s expense.
- maym86 8y ago
  Wells Fargo is beyond conservative. It is activley criminal. https://en.m.wikipedia.org/wiki/Wells_Fargo_account_fraud_scandal https://en.m.wikipedia.org/wiki/Wells_Fargo_account_fraud_sc... It's not too difficult to take a small step and open an account elsewhere. We can stop rewarding these large banks for their bad behavior. I've had a good experience with Ally.
  - LyndsySimon 8y ago
    Ally is just as much of a “large bank”, isn’t it? I currently bank with a regional bank, but they were acquired by Arvest. I’m looking for alternatives now.
    - maym86 8y ago
      They currently don't seem to be behaving in ways that actively hurts customers. I don't think there anywhere close to as big as BoA. My issue is more with behavior. But yeah, I've been considering opening a local credit union account to try that out too.
    - mindslight 8y ago
      Not quite just as much (1/10 the size), but certainly up there. Ally was formerly known as GMAC, which should ring some bells. https://en.wikipedia.org/wiki/List_of_largest_banks_in_the_United_States https://en.wikipedia.org/wiki/List_of_largest_banks_in_the_U... You'd hope that being one of the 19 largest banks would keep them a little more responsive than being one of the 4 largest banks. As well as their customers being lower friction online ones, rather than trapped by circumstance brick-and-mortar ones. But like everything in our "best-effort" economy, the only thing you can really do is open multiple bank accounts [0] and hope they aren't yet colluding hard enough through the commercial surveillance bureaus that their failures will remain reasonably independent. [0] Obviously at places that aren't likely to institute monthly fees, or arbitrary requirements to avoid them.
  - ams6110 8y ago
    I have always used a local credit union for basic checking/savings. No need for a big national bank for that.